Major UK egg supplier Noble Foods is reported to be looking to offload desserts business Gü and to have appointed advisers to run an auction.
Sky News today (20 November) reported Noble Foods, also home to egg brand The Happy Egg Co., has hired Spayne Lindsay to handle the process to sell Gü.
Noble Foods declined to comment when approached by just-food, while Spayne Lindsay had not returned a request for comment at the time of writing.
Privately-owned Noble Foods bought a majority stake in Gü, which was founded in 2003 by owner and managing director James Averdieck, in 2010.
The most recently filed set of accounts at the UK’s Companies House for Noble Foods cover the 52 weeks to 27 September 2019. Turnover stood at GBP314.2m (US$417.3m), down slightly from GBP317.5m a year earlier.
Operating profit was GBP8.9m, versus GBP11.3m a year earlier. The company made a profit for the financial year of GBP5.8m, against GBP7.2m 12 months earlier.
In July, Noble Foods announced it had appointed Kerry Group veteran Duncan Everett as its new chief executive.